The chance to become rich and famous by starting a new business is no longer just an American dream. It’s happening in Asia, and in record numbers. Since 2005, more than 6,000 startups in Asia snared venture capital to ramp up their businesses. More than half of those were in China or India.

Because of China's politico-strategic framework, it is crucial for CEOs to understand China's leaders. That's why CEOs must know Xi Jinping, China's upcoming new leader, who will likely lead for 10 years.

Already the world’s second-largest economy, China’s future—and the future of companies doing business there—depends on overcoming significant hurdles.Here's what CEOs had to say at a roundtable at the CEO of the Year.

The broad middle markets of China, India, and Brazil are where most of the growth of the next decade will be found. It will be hard for any firm to be among the global market leaders in 2020 unless they have a meaningful share of this. The trouble is, the next-generation companies in China such as Haier, Geely, and others that are stepping onto the global stage as tough competitors are already positioning themselves to dominate these markets.

If you're looking to succeed in China, you'll need to align your strategy with the agenda of China's leaders. Businesses need to take a "politico-strategic" approach when entering the country because of the strong relationship between commerce and government.